Credit Analyst, Banking
Salary

Earnings for Banking Credit Analysts in the United States come in at around $44K annually on average. Total cash compensation for Banking Credit Analysts runs from $29K to $66K depending on bonuses that can occasionally exceed $8K and profit sharing that can reach almost $7K. Geography is the biggest factor affecting pay for this group, followed by career length. Most Banking Credit Analysts survey respondents are men (72 percent). Job satisfaction is high and work is enjoyable for most Banking Credit Analysts. Most report receiving medical coverage from their employers and a strong majority collect dental insurance.

XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).

XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).

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Job Description for Credit Analyst, Banking

Banking credit analysts research and review consumer credit information through various sources to analyze the creditworthiness of applicants for their institution's services. They must also interview references, review relevant financial data of the applicants, and determine an appropriate line of credit (if one is determined to be appropriate). Banking credit analysts typically work daily with the sales department, lessees of vehicles and property, and property dealers and brokers to ensure the correct processing of credit applications. Their work with dealers also assists the sales department by proxy, as relationship-building skills are used by all three parties to create strong professional ties.

Most companies require banking credit analysts to have a bachelor’s degree in finance, accounting, or a related field. While most positions do not require any specific experience, a background in a financial or banking field may be preferred. The position requires excellent oral and written communication skills, a focus on customer service, and proficiency with basic computer programs such as the Microsoft Office suite. The ability to work under pressure and make sound judgments are also critical to banking credit analysts' performance.

Banking credit analysts generally work full time during regular business hours. However, alternative and/or additional hours may be required depending on the employer's needs. These analysts usually work in an office setting with minimal physical requirements or hazards.

Credit Analyst, Banking Tasks

Ensure that approved accounts remain in good standing.

Establish terms for approved credit requests.

Assess credit risk.

Aggregate and evaluate data related to credit and credit risk to support organizational decision-making.

Common Career Paths for Credit Analyst, Banking

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Though some Banking Credit Analysts move into positions like VP of Credit (where the average salary is $108K), this progression is not the norm. Banking Credit Analysts moving up in their careers tend to step into positions as Commercial Loan Officers or Commercial Lenders. The median paychecks in those roles are $23K higher and $34K higher, respectively.

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Popular Skills for Credit Analyst, Banking

This chart shows the most popular skills for this job and what effect each skill has on pay.

Banking Credit Analysts usually report a few specific skills. Loan Underwriting and Accounting are considered valuable skills and can increase employee pay by 9 percent and 5 percent, respectively. Those proficient in Financial Analysis are, more often than not, also skilled in Accounting.